This page tracks $DJIA (Dow Jones Industrials) over time and different time frames. Updates, including different time frames and additional technical subsets will be notified via Twitter and Facebook.
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July 19, 2017
Last week’s trend line chart continues to confirm resistance on $DJIA while $SPX has entered our sell zone. The ascending trend line continues to get tested, but has also held for 4 weeks in a row. A sustained break lower opens $DJIA up to a larger technical retrace which could target the .382 fib or an 11% correction. For now the low volatility regime continues to dominate which leaves room to further upside. But watch that ascending trend line. It requires ever higher price levels to avoid a break.
July 13, 2017
Here’s a fun chart of the $DJIA in monthly format. A couple of key points: Price is pushed against 2 key multi year trend lines. Price is almost 2000 points above the monthly 15MA a standard price pivot regularly visited by the $DJIA in its long term history.
This MA will get revisited. Usually once a year. But it’s different this time. So they say.
July 12, 2017
Yesterday the $DJIA almost broke its trend line, today a pre-market released testimonial speech by Janet Yellen propelled the $DJIA to new highs hitting its upper trend line before rejecting. New highs came on a negative divergence. These 2 trend lines are converging, and are demanding a resolution in July.
July 6, 2017
I’m starting this segment with a macro chart of the $DJIA. Much like the global FTSE chart ($FAW) the $DJIA has been on an uninterrupted quarterly run since the February 2016 lows. Note during the last couple of quarters the $DJIA continued to tag a long term trend line which since then has served as a point of rejection. Also note the $DJIA is far disconnected from its quarterly 5 EMA.
The trend line is steep, but if we are correct about markets potentially topping in 2017 then the subsequent corrective move could eventually be very dramatic targeting the .382 fib if current highs hold (which is not confirmed as of yet). We expect the trend line to remain resistance on potential future tags.
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